蒙特利尔银行美股招股说明书(2026-04-21版)

US$4,345,000Senior Medium-Term Notes, Series KBarrier Enhanced Return Notes due April 22, 2031Linked to the S&P 500®Futures Excess Return Index ●The notes are designed for investors who are seeking 219.50% leveraged positive return based on any appreciation in the level of the S&P500®Futures Excess Return Index (the “Reference Asset”).●If the Reference Asset decreases by more than 30.00% from its Initial Level, investors will lose 1% of the principal amount for each 1%decrease in the level of the Reference Asset from its Initial Level to its Final Level. In such a case, you will receive a cash amount atmaturity that is less than the principal amount, and may lose up to 100% of your principal amount at maturity.●Investing in the notes is not equivalent to a hypothetical direct investment in the Reference Asset.●The notes do not bear interest. The notes will not be listed on any securities exchange.●All payments on the notes are subject to the credit risk of Bank of Montreal.●The notes will be issued in minimum denominations of $1,000 and integral multiples of $1,000.●The CUSIP number of the notes is 06376KP69.●Our subsidiary, BMO Capital Markets Corp. (“BMOCM”), is the agent for this offering. See “Supplemental Plan of Distribution (Conflicts ofInterest)” below.●The notes will not be subject to conversion into our common shares or the common shares of any of our affiliates under subsection39.2(2.3) of the Canada Deposit Insurance Corporation Act (the “CDIC Act”). Terms of the Notes: 1Selected dealers will receive a structuring fee of up to $8.50 from us or one of our affiliates for each note. Investing in the notes involves risks, including those described in the “Selected Risk Considerations” section beginning on page P-5 hereof, the “Additional Risk FactorsRelating to the Notes” section beginning on page PS-5 of the product supplement, and the “Risk Factors” section beginning on page S-1 of the prospectus supplement and on page8 of the prospectus. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these notes or passed upon the accuracy of this document, theproduct supplement, the prospectus supplement or the prospectus. Any representation to the contrary is a criminal offense. The notes will be our unsecured obligations and will not be savingsaccounts or deposits that are insured by the United States Federal Deposit Insurance Corporation, the Deposit Insurance Fund, the Canada Deposit Insurance Corporation or any othergovernmental agency or instrumentality or other entity. On the date hereof, based on the terms set forth above, the estimated initial value of the notes is $981.71 per $1,000 in principal amount. However, as discussed in more detail below, theactual value of the notes at any time will reflect many factors and cannot be predicted with accuracy. The S&P 500®Futures Excess Return Index (ticker symbol "SPXFP"). See "The Reference Asset" below foradditional information. 1Subject to the occurrence of a market disruption event, as described in the accompanying product supplement. 2As determined by the calculation agent and subject to adjustment in certain circumstances. See "General Terms of the Notes -Adjustments to a Reference Asset that Is an Index" in the product supplement for additional information. Payoff Example The following table shows the hypothetical payout profile of an investment in the notes based on various hypotheticalFinal Levels (and the corresponding Percentage Change) of the Reference Asset, reflecting the 219.50% Upside LeverageFactor, and Barrier Level of 70.00% of the Initial Level. Please see “Examples of the Hypothetical Payment at Maturity for a$1,000 Investment in the Notes” below for more detailed examples. Additional Terms of the Notes You should read this document together with the product supplement dated March 25, 2025, the prospectussupplement dated March 25, 2025 and the prospectus dated March 25, 2025.This document, together with the documentslisted below, contains the terms of the notes and supersedes all other prior or contemporaneous oral statements as wellas any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structuresfor implementation, sample structures, fact sheets, brochures or other educational materials of ours or the agent.Youshould carefully consider, among other things, the matters set forth in Additional Risk Factors Relating to the Notes in the productsupplement, as the notes involve risks not associated with conventional debt securities. We urge you to consult your investment,legal, tax, accounting and other advisers before you invest in the notes. You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, byreviewing our filings for the relevant date on the SEC website): Product supplement dated March 25, 2025:https://www.sec.gov/Archives/edgar/data/927971/00012146